Arendal, Aug 17 (IANS): Norwegian Prime Minister Jonas Gahr Store inaugurated Europe's first gigawatt-scale factory for Lithium Iron Phosphate (LFP) batteries.

Located in Arendal, southern Norway, the factory is owned by the start-up Morrow Batteries. Achieving yet another significant milestone, Morrow Batteries can produce 3 million battery cells annually, amounting to a capacity of 1 GWh, Xinhua news agency reported.

Addressing the opening ceremony on Friday, Store applauded Morrow Batteries' rapid rise as Europe's top battery manufacturer, highlighting its pivotal role in Norway's green transition and the increasing global demand for batteries.

He also acknowledged Norway's supportive policies for the industry but emphasised that the primary responsibility lies with private investors.

"Arendal is now home to Europe's first gigawatt-scale factory for LFP batteries, creating jobs, fostering value creation, and positioning itself for significant export revenues. We are eager to deliver our first commercial batteries to customers by the end of the year," said Lars Christian Bacher, CEO of Morrow Batteries.

Bacher said that test production is ongoing, with Morrow collaborating closely with customers to fine-tune production equipment for high-quality serial production in the coming months.

The factory currently employs about 150 workers on a shift schedule and is the first of four planned in Arendal. Morrow intends to construct three more battery factories in the region.